Taxpayers Aren’t Liable for Bonds
There are several factual errors in the letter from Anita Mangles (Dec. 22) regarding Mello-Roos districts and their relationship to the San Joaquin Hills Transportation Corridor.
The allegation that taxpayers will be liable for bonds issued by the Transportation Corridor Agency for the San Joaquin Hills Transportation Corridor is untrue. No taxpayer or property owner in Orange County, no city or any public agency will bear any risk when these bonds are issued. The entire risk will be borne by the financial institutions that back the bonds with letters of credit.
The letter asks why Measure M funds are not being used to build the corridors. Answer: The corridors were not included on the list of projects voters approved when they voted for Measure M.
MICHAEL STOCKSTILL, Manager, Public Affairs, Transportation Corridor Agencies
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